Clay Perry, SVP of Global Markets at Integration Point, spoke at the 2018 ICPA Fall Conference on October 22. Clay presented on China’s new international infrastructure plan, One Belt One Road (OBOR).

This infrastructure plan was announced by President Xi Jingping of China as a means to move China to the top of the world economic scale. The OBOR initiative could see exacerbated regulatory issues, but has the potential to strategically elevate China as a dominant influencer of global commerce.

On October 31, Australia became the sixth nation to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), popularly known as Trans-Pacific Partnership (TPP-11) trade agreement. The agreement is set to come into force on December 30, sixty days after at least half of the signatories ratify the deal. The other five nations that have ratified the agreement are Japan, Mexico, Singapore, New Zealand, and Canada. As the members of the first group of signatories, these six countries will receive the maximum benefits from the agreement.

The CPTPP also includes Chile, Malaysia, Brunei Darussalam, Peru, and Vietnam. Originally, the TPP had twelve signatories—the U.S being the twelfth. President Trump pulled out of the deal last year, leaving the rest of the eleven nations to form the renewed TPP-11 Agreement.